Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) | Hansard source

Yes. I'll get to it, Senator Cash. Thank you, I don't need your help. I have one minute. The grandfathering arrangements in relation to shared ownership are consistent with the existing arrangements in the tax system around the acquisition of assets. Wherever possible, we've aligned the arrangements in the core legislation with the existing system so that new laws operate effectively and consistently with established administration of the tax system. The grandfathering rules we have put in place are reasonable arrangements that mean what you owned at budget night can continue to be negatively geared in the future, but anything bought, sold or acquired after that date is treated under the new rules. There are often, as we all know—when we get through the committee—complex interactions and details which, as we've said, we will work through in the usual way.